Companies are Loosing Revenue as a Direct Result of Inability to Travel

Financial leaders at US companies say business travel is likely to boom by the end of 2022. According to a poll from SAP Concur, more than half (52 percent) of the finance managers surveyed say it’s very or extremely likely that their industry will see a substantial increase in business travel by the end of 2022.

Business travelers are even more positive, with nearly three out of four (73 percent) saying an increase is very or extremely likely this year, and nearly two-thirds (62 percent) anticipate an increase in their own business travel compared with 2021.

The survey also found a significant majority of finance managers (88 percent) say their company lost revenue over the past year as a direct result of employees’ inability to travel at pre-pandemic levels.

Nearly half of business travelers (44 percent) say their company needs an increase in business travel to remain viable beyond 2022. Nearly a third (35 percent) say the same for their career, and almost as many (30 percent) say the same for their entire industry.

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